Bhubaneswar and Imphal airports were Declared as International Airports CCEA approved the launch of the IPDS for

Textiles Industry RBI Allowed Banks to Revise Periodicity of Interest Payments Reserve Bank of India Increased the Repo Rate by 25 Basis Points to 7.75 %from 7.50% India's Foreign Exchange Reserves jumped to 281.12 Billion US Dollars India Signed Pact with World Bank for Uttar Pradesh Water Sector Restructuring Project India's Foreign Exchange Reserves touched 279.24 Billion US Dollars CCEA increased the Minimum Support Price of Wheat by 50 Rupees per Quintal Total Broadband Subscriber Base in India increased to 15.24 Million Inflation Increased to 6.46 percent in September 2013; Highest in Seven Months Total Number of Telecom Subscribers increased to 904.46 Million China and EU Signed a Bilateral Currency Swap Agreement IFC Launched 1 Billion Dollar offshore Rupee Bond Programme to Strengthen Indias Capital Markets Indian Railways Carried 511.00 Million Tonnes of Freight During AprilSeptember 2013 India and Japan Signed MoU to study Mumbai-Ahmedabad Rail Route Trade Deficit for April-September, 2013-14 Estimated at 80126.24 Million US Dollars Direct Tax Collection increased by 10.66 Percent to 301250 Crore Rupees Railway Revenue Earnings were 65354.64 Crore Rupees during AprilSeptember 2013 RBI reduced the MSF Rate to 9 Percent from 9.5 Percent India's Forex Reserves dropped by 1.11 Billion US Dollars to 276.26 Billion US Dollars SEBI approved Major Reforms to Attract Overseas Investors RBI fixed the Reference Rate of Rupee against US Dollar at 61.4050 CCEA approved National Mission on Oilseeds and Oil Palm CCEA Approved for Continuation of Integrated Textile Parks Scheme in 12th Five Year Plan Jet-Etihad deal Approved by SEBI (Securities Exchange Board of India)

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The Union Cabinet of India on 30 October 2013 gave its approval for declaring the Bhubaneswar and Imphal airports as international airports The CCEA approved the launching of the new IPDS during the 12th five year plan to address the environmental concerns faced by textile units. The Reserve Bank of India on 29 October 2013 allowed the commercial banks to revise the periodicity of interest payments. The Reserve Bank of India (RBI) on 29 October 2013 released the Second Quarter Review of Monetary Policy 2013-14 India's foreign exchange reserves touched 281.12 billion dollars in the week ended on 25 October 2013 India on 25 October 2013 signed an agreement with World Bank for credit of 360 million US dollar for 2nd phase of UP Water Sector Restructuring Project. India's foreign exchange (forex) reserves gained 1.51 billion US dollars to touch 279.24 billion US dollars for the week ended 11 October 2013 CCEA enhanced the Minimum Support Price (MSP) of wheat by 50 rupees per quintal to 1400 rupees Total Broadband subscriber base in India increased from 15.19 million at the end of June 2013 to 15.24 million at the end of July 2013 Wholesale Price Index (WPI) for all commodities in the month of September 2013 stood at 6.46 percent as compared to 6.1percent in August 2013 Telecom Regulatory Authority of India released the latest telecom subscription data on 31 July 2013 China on 10 October 2013 signed a 350-billion-yuan (45 billion Euro) currency swap agreement with the European Union IFC on 7 October 2013 launched a 1 billion Dollars offshore bond programme to strengthen Indias capital markets and attract greater foreign investment. Indian Railways carried 511.00 million tonnes of revenue earning freight traffic during the first half of fiscal 2013 India and Japan on 9 October 2013 signed MoU to do a joint feasibility study of High Speed Railway system on the Mumbai-Ahmedabad route India's Exports during September, 2013 were valued at 27679.33 million US dollars Gross collection from direct taxes increased by 10.66 percent to 301250 crore rupees in April-September period in 2013 The total approximate earnings of Indian Railways on originating basis during 1April to 30 September 2013 were 65354.64 crore rupees The Reserve Bank of India (RBI) on 7 October 2013 reduced the Marginal Standing Facility (MSF) rate to 9 per cent from 9.5 per cent India's foreign exchange (forex) reserves fell by 1.11 billion US dollars to 276.26 billion US dollars for the week ended on 27 September 2013 SEBI on 5 October 2013 ushered in major reforms to attract overseas investors The Reserve Bank of India on 4 October 2013 fixed the reference rate of rupee against US dollar at 61.4050 The Cabinet Committee on Economic Affairs on 3 October 2013 approved the implementation of the National Mission on Oilseeds and Oil Palm Cabinet Committee on Economic Affairs (CCEA) on 3 October 2013 approved continuation of the scheme for Integrated Textile Parks in the 12th five year plan. Jet-Etihad deal was approved by SEBI (Securities Exchange Board of India) on 1 October 2013

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The Government notified GAAR (General Anti Avoidance Rules) RBI Banned Zero Percent Interest Rate Schemes for Purchase of Consumer Goods CCEA approved the Methodology for Coal Block Auction RBI relaxed Trade Credit Norms to raise Funds from Abroad Cabinet Committee on Economic Affairs Took Steps For Operationalisation of Infrastructure Debt Funds RBI Announced Committee to Frame Vision for Financial Inclusion Foundation of MEMU Coach Factory was laid at Bhilwara RBI Increased the Repo Rate by 25 Basis Points, MSF Rate Brought Down RBI liberalised norms for banks to open branches in Tier I cities Bhartiya Mahila Bank Started Recruitment Process India and Latvia signed agreement on Double Tax Avoidance Agreement Net direct tax collections increased by 12.5 percent for the current financial year Union Minister of Finance Announced Austerity Measures to Contain Rising Fiscal Deficit Inflation Increased to 6.1 percent in August 2013; Highest in Six Months Union Government of India Hiked the Import Duty on Gold RBI appealed against currency garlands Union Government slashed Import Tariff Value of Gold and Silver SEBI relaxed KYC norms for foreign investors Industrial output increased by 2.6 percent in July 2013 Cabinet approved the proposal to invest 4.3 Billion $ in the World Bank Bonds Economic Outlook 2013-14 Released:Economy to Grow at 5.3 Percent in 2013-14 CCEA allocated Additional Five Million Tonnes of Foodgrains to BPL Families RBI constituted Expert Committee to revise and strengthen Monetary Policy Framework The Government Notified Changes in the FDI Policy Russia Lifted Ban on Import of NonBasmati Rice and Oilseeds from India

The Union government of India on 26 September 2013 notified GAAR (General Anti Avoidance Rules) Reserve Bank of India on 25 September 2013 banned zero per cent interest rate schemes for purchase of consumer goods. CCEA on 24 September 2013 approved the methodology for auction by competitive bidding of the coal blocks The Reserve Bank of India on 24 September 2013 relaxed trade credit norms to raise funds from abroad The Cabinet Committee on Economic Affairs on 23 September 2013 took some steps to promote the operationalisation of Infrastructure Debt Funds (IDFs). RBI on 23 September 2013 announced the appointment of a Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households. The foundation stone of MEMU Coach Factory was laid on 22 September 2013 at Bhilwara, Rajasthan RBI on 20 September 2013 increased the repo rate or the short term lending rate by 25 basis points to 7.5 per cent from 7.25 per cent with immediate effect. Reserve Bank of India (RBI) on 19 September 2013 announced that banks can open their branches in tier 1 centers without taking its permission in each case. Bhartiya Mahila Bank, the first nationalised bank for women expected to be operational from November 2013. The Government of India signed an agreement with Latvia on Double Tax Avoidance Agreement (DTAA). Net direct tax collections increased by 12.5 percent for the current financial year P. Chidambaram on 18 September 2013 announced strictness measures such as a slash in the non-plan expenditure by 10 percent to contain fiscal deficit. Inflation Increased to 6.1percent in August 2013; Highest in Six Months The Union Government of India hiked the import duty on gold from 10 percent to 15 percent public not to use bank notes for making garlands The Union Government has further slashed the import tariff value of gold to 432 dollars per 10 grams and silver to 736 dollars per kilogram. Securities and Exchange Board of India (SEBI) on 12 September 2013 issued the new Guideline to make Know Your Client requirements (KYC). Index of Industrial Production (IIP) with base year (2004-2005=100) released the data on Industrial output on 12 September 2013. Union Cabinet approved a proposal to invest in the bonds of the World Bank Group. It also approved proposal to set two semiconductor manufacturing facilities. The Economic Advisory Council to the Prime Minister on 13 September 2013 released the document Economic Outlook 2013-14 CCEA approved an additional allocation of five million tonnes of foodgrains to families below the poverty line (BPL) RBI has constituted an expert committee to examine its Current Monetary Policy Framework. It will be headed by Dr. Urjit Patel. The Union Government of India on 10 September 2013 notified changes in the FDI policy Russia lifted the ban on import of non-basmati rice from India on 10 September 2013. It also lifted the ban on the oilseeds.

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Forward Markets Commissions Administrative Control shifted to Finance Ministry Currency Swap Arrangement with Japan enhanced to 50 billion US dollar SEBI barred 34 entities of Capital Market for Fraudulent Dealings India's Onion Exports fell Sharply by 81 Percent in August 2013 RBI issued norms for Currency Swap Window RBI Revised Gold Import Norms to Contain CAD RBI allowed the Non-Resident Investors to buy Shares under FDI Scheme RBI introduced Forex Swap Window for Public Sector Oil Marketing Companies Indias GDP Dropped to 4.4 Percent; Lowest in 4 Years RBI allowed premature encashment of 8% Savings Bonds for Investors above 60 CCEA approved Continuation of Technology Upgradation Fund Scheme CCI cleared stalled Infra Projects worth 1.83 Lakh Crore Rupees RBI Released the Discussion Paper on Banking Structure in India The Way Forward The Number of Foreign Tourists in India increased to 207.31 Lakh in 2012 RBI announced auction of two 48-days Government of India Cash Management Bills RBI imposed Monetary Penalty on 6 Banks for violation of KYC Guidelines RBI Further relaxed SLR to provide More Funds to Banks for Lending Government of India Banned DutyFree Import of Flat Screen TVs by Air Travellers Gold Prices hit Eight-Month High at 31760 Rupees Government imposed MEP of 650 US Dollars per Tonne on Onion Import Duty on Gold, Silver & Platinum hiked to 10 Percent by Central Government Union Cabinet approved Setting up of Tax Administration Reform Commission Indian Railways Carried 343 Million Tonnes of Freight during AprilJuly 2013 India's Exports during July 2013 were valued at 25834.46 Million US Dollars

The control of Forward Markets Commission was transferred to Ministry of Finance from Department of Consumer Affairs under the Ministry of Food. Bilateral Currency Swap Arrangements between India and Japan expanded to 50 billion US dollars. SEBI barred 34 entities from the capital market for fraudulent dealings in the shares of 12 companies. Sunil Mehta was the main conspirator. India's onion exports fell sharply by 81 percent to 29247 tonnes in August 2013 as compared with August 2012 The norms related to Currency Swap Window were issued by the Reserve Bank of India in Mumbai. Currency Swap facility will be available to Scheduled Banks. To contain the current account deficit, RBI announced some measures to curb the demand for gold in the month of September 2013... RBI allowed Non-Resident Investors to purchase shares of Indian entities Under FDI Scheme. They can buy shares from listed stock exchanges. Forex Swap Window for Public Sector Oil Marketing Companies introduced by RBI. This will help the oil companies in meeting daily $ requirements. The Gross Domestic Product (GDP) growth of India decelerated even more to 4.4 percent, the slowest rate of expansion since 2008 economic meltdown. RBI permitted premature encashment of 8% savings of taxable bonds for investors of 60 years and above. Cabinet Committee on Economic Affairs gave its approval for continuing the Technology Upgradation Fund Scheme during the 12th Plan period The Cabinet Committee on Investment (CCI) on 26 August 2013 cleared 36 projects worth 1.83 lakh crore rupees. The Reserve Bank of India on 27 August 2013 released the Discussion Paper on Banking Structure in India The Way Forward.

The number of foreign tourists visiting India has shown a steady increase in the past three years RBI announced auction of two 48-days Government of India Cash Management Bills worth 22000 crore rupees. The Reserve Bank of India imposed monetary penalty on six banks for violation of the Know Your Customer (KYC)/Anti Money Laundering guidelines. The Reserve Bank of India (RBI) further relaxed the Statutory Liquidity Ratio (SLR) The Union Government of India on 19 August 2013 banned duty-free import of flat screen televisions by people who travel through air. Gold price on 17 August 2013 jumped by 700 rupees in Kolkata after stocks and money markets melted Government on 17 August 2013 notified imposition of a minimum export price (MEP) of 650 US dollars per tonne The Central Government on 13 August 2013 raised customs duty on gold, silver and platinum to 10 percent in a bid to curb the burgeoning Current Account Deficit. The Union Cabinet on 13 August 2013 approved the proposal for setting up of the Tax Administration Reform Commission to establish a stable tax administration. As per the data released by Ministry of Railways on 13 August 2013, Indian Railways carried 343 million tonnes of freight India's exports in July 2013 were valued at 25834.46 million US dollars

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Railway Revenue Earnings up by 10.74 Per Cent during April-July 2013 India's Foreign Exchange Reserves went down to 277.167 billion US dollars RBI announced Weekly Sale of Government Bonds to Check Fall in Rupee Price CCEA approved export of additional 2 million tonnes of Wheat Foreign Investment Promotion Board Cleared 12 FDI Proposals Worth 343 Crore Rupees The Union Government of India Slashed Customs Duty on Import of Rice Bran CCEA approved continuation of Rajiv Gandhi Grameen Vidyutikaran Yojana in 12th Plan Cabinet cleared Disinvestment of 10 percent in Indian Oil Corporation CCEA approved Creation of the Special National Investment Fund Union Cabinet to continue Interest Subvention of 3 Percent on Crop Loans to Farmers FDI to increase in Print Media from 26 Percent to 49 Percent Government eased the Norms for FDI in Multi-Brand Retail The Rate of Interest Subvention Scheme for Exports Increased to Three Percent RBI released the First Quarter Review of Monetary Policy for 2013-14 India, Saudi Arabia decided to set up Saudi-Indian Business Network (SIBN) in Riyadh and Dammam India achieved a Record Production of Pulses RBI reduced Realisation Period for Exporters to Nine Months Reserve Bank of India imposed Restrictions on Imports of Gold Revived New Bhopal Textile Mills of National Textile Corporation Inaugurated President of India promulgated the Securities Laws (Amendment) Ordinance 2013 ICAR and the Industry to Commercialize Agri-Technologies Signed more than 60 MoUs RBI:Indias Foreign Exchange Reserves increased to 280.19 Billion US Dollars India signed agreement with Asian Development Bank for 60 million Dollars loan for NKUSIP

The total approximate earnings of Indian Railways on originating basis during 1 April to 31 July 2013 were 44260.16 crore rupees Foreign exchange reserves of India has fallen by 2.995 billion US dollars to 277.167 billion US dollars. RBI has decided to sell Government Bonds worth 22000 crore rupees every Monday to check volatility in the foreign exchange market. CCEA on 8 August approved export of additional 2 million tonnes of wheat from godowns of FCI. The Government of India cleared 12 FDI proposals worth 343 crore rupees. 3 proposals were rejected and 6 proposals were kept in abeyance. Customs Duty on the import of rice bran and rice bran oil cake was scraped completely by the Government through notification in August 2013. Proposal of the Ministry of Power for continuation of the RGGVY during the 12th Plan period was approved by the CCEA. The CCEA on 1 August 2013 approved the proposal for sale of 10 percent Government stake in Indian Oil Corporation (IOC). CCEA approved the creation of the Special National Investment Fund. Its objective is to meet the minimum public shareholding of 10% in 6 CPSEs. The Union Cabinet of India on 2 August 2013 decided to continue the interest subvention of three per cent on crop loans. INS on 2 August 2013 approved a proposal to increase FDI from 26 percent to 49 percent in print media. Union Cabinet eased the FDI norms for multi-brand retail chains. It also widened the scope of the definition of terms, Small and Control. The Union government of India on 31 July 2013 decided to enhance the rate of interest subvention scheme for exports. RBI released the First Quarter Review of Monetary Policy for 2013-14 on 30 July 2013. India and Saudi Arabia on 24 July 2013 have decided to set up a SaudiIndia Business Network (SIBN) separately in Riyadh and Dammam. India achieved a record production of 18.45 million tonnes of pulses in the 2012-13 crop year ended June 2013. The Reserve bank of India on 21 July 2013 brought down the period of realisation of goods and software to nine months from earlier 12 months. The Reserve Bank of India on 22 July 2013 imposed certain restrictions on the import of various forms of gold. The Union Minister of Textiles, K Sambasiva Rao on 22 July 2013 inaugurated the New Bhopal Textile Mills of NTC in Bhopal. Securities Law Amendment Ordinance 2013 was promulgated by Pranab Mukherjee to provide powers to SEBI to tackle with fraudulent investment schemes. ICAR and the Industry to Commercialize Agri-Technologies signed more than 60 MoUs on Agriculture. The MoUs were signed during, Agri-Tech Investors Meet 2013. RBI on 20 July 2013 stated that Indias foreign exchange reserves increased by 21.1 million US dollars. India signed an agreement with Asian Development Bank (ADB) on 19 July 2013 for a 60 million dollars loan as to improve urban services.

RBI opened 25000-crores Rupees Special Liquidity Window for Mutual Funds Union Govt. approved Proposal to give SEBI more Powers

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Government raised FDI in Telecom Sector to 100 percent Government allocated 1200 Crore as SCA to TSP in 2013-14 RBI announced slew of measures to curb Rupee Volatility RBI fined 22 banks for violating KYC and Anti-Money Laundering Norms FDI increased into India to 2.32 Billion US Dollars in April 2013 India's Exports in June 2013 were valued at 23785.64 Million US Dollars Visa on Arrival Scheme registered 22.9 % Growth in June 2013 CCEA approved Modified Industrial Infrastructure Upgradation Scheme Jewellers decided to suspend Sale of Gold Coins for Six Months CCEA approved Disinvestment of government stake in State Trading Corporation and ITDC Direct Tax Collection for June Quarter of FY 2013-14 increased by 11.52 percent Cotton Association of India estimated Lower Production of Cotton in 2012-13 Proposed Investments in India fell to 75 Percent in FY12-13: Assocham Railway Revenue Earnings increased by 11.93 Percent during April - June 2013 Chinas consumer inflation rose to 2.7% in June 2013 India-Israel trade raised to 6 billion Dollars in 2012-13 Foreign Investment Promotion Board approved 7 Pharma FDI proposals Government Released Revised Online Transfer Claim Form for EPFO Foreign Institutional Investors pulled out 5.6 billion Dollars from Debt Market Telecom Commission approved hike in FDI cap from 74 to 100 percent in Telecom Sector CCEA approved the continuation of National Mission on Food Processing Government to set-up 51 new low-cost Airports to Increase Air Connectivity

The Reserve Bank of India (RBI) on 17 July 2013 opened a special liquidity window for commercial banks to meet the cash requirements of mutual funds (MFs). The Union government on 17 July 2013 approved a proposal to amend SEBI Act for providing more powers to the market regulator to crack down on Ponzi schemes. FDI in Telecom sector raised to 100 percent from 74 percent by the government. However, 49 percent of the investment would be routed through automatic route. 1200 crore budget allocated for 2013-14, under SCA to TSP. The budget will be used for employment generation and socio-economic development of Tribals. Reserve Bank of India (RBI) on 15 July 2013 announced measures to deal with rupee volatility. RBI on 15 July 2013 imposed fines of around 49.5 crore on 22 private and public sector banks for violating KYC/anti-money laundering norms. FDI into India increased 25 percent year-on-year to 2.32 billion US dollars in April 2013. Indias exports during June 2013 were valued at 23785.64 million US dollars (138901.73 crore rupees). India witnessed a rise of 22.9 % growth in Visa on Arrival Scheme in June 2013 as compared to June 2012. Japanese Tourists availed maximum facility. The government on 12 July 2013 approved the Modified Industrial Infrastructure Upgradation Scheme (MIIUS) with an outlay of 1030 crore Rupees. Jewellery retailers across India on 10 July 2013 decided to suspend sale of gold coins and bars for six months. The Cabinet Committee on Economic Affairs (CCEA) on 11 July 2013 approved the disinvestment of government stake in State Trading Corporation and ITDC. Direct Tax Collection of April-June quarter of FY 2013-14 increased by 11.52 percent. Collection of Corporate Taxes has gone up by 7.82 percent. CAI in its latest report estimated a fall in production of cotton crop in crop season 2012-13 at 353.25 lakh bales against the 373.25 lakh bales of 2011-12. As per the survey conducted by Assocham in July 2013 the proposed investments by domestic and foreign entrepreneurs declined by 75 per cent in FY 2012-13. Indian Railways witnessed an increase of 11.93%in its approximate earnings from 1 April to 30 June 2013 and total goods earnings increased by 9.35%. Consumer price inflation/Index of China scaled to 2.7 per cent year-onyear in June 2013 pushed by a 4.9 per cent rise in food prices. The trade between India and Israel touched the 6-billion dollars mark during 2012-13. The Foreign Investment Promotion Board approved seven Foreign Direct Investments (FDI) proposals for investment in Indian pharmaceutical companies. RTC form for EPFO beneficiaries was released by Sis Ram Ola. The process is designed to develop a system of web based services for online submission of forms. Foreign institutional investors (FII) in the Month June 2013 jumped out of the debt market, withdrawing 5.6 billion dollars. Telecom Commission of India approved enhancement of FDI cap on telecom sector from 74 to 100 percent. Union Cabinet on 28 June 2013 approved the continuation of the National Mission on Food Processing (NMFP). Government took a decision to set-up 51 new airports in tier-II & III cities across India. The decision will boost the aviation sector in India.

Minimum Support Price for Paddy fixed at 1310 Rupees per Quintal Union Government raised Rice Support Price by 4.8 Percent India Third Most Attractive Destination for Investment in the World: UNCTAD Pipavav Port Regained Top Position in Seafood Exports for Second Consecutive Year Three IPC Common Sales Contracts Launched by International Pepper Conclave 2013 Union Govt extended Power Distribution Reform Package to 12th Plan Cabinet Committee Approved Disinvestment of 5 Percent Paid Up Equity in NLC CCEA approved Mechanism for Coal Supply to Power Producers Government planned to introduce Visaon-Arrival Facilities for Chinese Nationals Duty Drawback Rate on Gold Ornaments hiked by Government to increase Jewellery Exports SEBI issued Guidelines for Investment Advisers to Operate in Stock Markets Global Prices of Fish Increased to Record High in May 2013 Indian Money in Swiss Banks Dropped to Record Low: Swiss National Bank Commodities Transaction Tax Applicable on Non-Farm Products from 1 July 2013 Union Government of India proposed plan to raise FDI Limit in Key Sectors RBI left its Repo Rate unchanged at 7.25 Percent Telecom Regulatory Authority of India (TRAI) reduced Roaming charges for calls,SMSs Petrol Prices hiked by 2 Rupees per Liter, excluding VAT WPI Inflation declined to 4.7 Percent in May 2013 SEBI notified Norms for Listing of Preference Shares Tax Scrutiny of Multinational Companies to Increase in India Mineral Production during April 2013: Provisional Data Released Industrial Production Growth declined to 2 Percent in April 2013

CCEA on 28 June 2013 approved the Minimum Support Prices (MSPs) for kharif crops of 2013-14 season. Union Government on 27 June 2013 raised the base price of rice to 1310 rupees per 100 kilograms from 1250 rupees as compared to year 2012. A survey conducted by UNCTAD revealed on 26 June 2013 that India was the third most attractive destination, after China and US. Pipavav port located in Saurashtra, Gujarat, remained at the top most position for second year in a row in FY13 on the basis of quantity. Three IPC Common Sales Contracts were launched by International Pepper Conclave 2013 to standardise the contract terms for export of pepper. CCEA on 21 June 2013 decided to extend the R-APDR for the 12th Five-Year Plan period in order to strengthen the distribution sector.

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The Cabinet Committee on Economic Affairs on 21 June 2013 approved disinvestment of 5 percent equity of Neyveli Lignite Corporation (NLC). The Cabinet Committee on Economic Affairs (CCEA) on 21 June 2013 approved mechanism for coal supply to Power Producers. The Union Government of India on 22 June 2013 planned to introduce Visa-on-Arrival facilities for the Chinese nationals. Duty Drawback Rate of gold ornaments increased by 73 rupees per gram to 173.70 rupees per gram to boost jewellery exports. SEBI notified guidelines for investment advisers. It made it compulsory to get requisite certifications for them to operate in stock market for them. UNs Food & Agriculture Organization announced that the global prices of fish reached record high in May 2013 because of rising demand. Swiss National Bank (SNB) in Zurich on 20 June 2013 unveiled that the Indian money in Swiss banks dropped to record low at 9000 crore Rupees. CBDT on 19 June 2013 announced that the Commodities Transaction Tax shall be levied on the non-farm products from 1 July 2013. Government proposed sweeping changes in FDI regime to attract foreign investors based on the recommendations made by Arvind Mayaram Committee. RBI in its June mid-quarter monetary policy on 17 June 2013, left its key policy ( repo rate) unchanged at 7.25 percent Telecom regulator TRAI on 17 June 2013 announced reduction in the national mobile phone roaming charges which will come into effect 1 July 2013. Price of petrol went up by 2 rupees in India due to devaluation of rupee. Due to devaluation, the import cost of crude oil has gone costlier for oil firms. WPI inflation in May 2013 came down to 4.7 percent against 4.89 percent measured in April 2013. Market regulator Sebi in Month of June 2013 notified a new set of regulations to regulate issuing and listing of non-convertible preference. The (I-T) department has notified a revised form to check for transfer pricing infractions, something that could intensify the scrutiny on their books. The index of mineral production of mining sector in April 2013 was lower by 16.9 percent compared to March 2013 Industrial production growth declined to 2 per cent in April 2013 due to dismal performance of various sectors.

Retail Inflation stood at 9.31 Percent in May 2013 Foreign Investment Limit hiked by 5 Billion Dollar in Government Securities RBI hiked the Cap for Online Repatriation of Export Proceeds FEEs from Tourism increased by over 9 percent in May 2013 RBI penalised Axis Bank, HDFC Bank and ICICI Bank for rule violations Cost inflation index for 2013-14 raised by 10%: CBDT Rupee touched New Life time low against Dollar at 57 Rupees 77 Paise CBDT revised Selection Criteria for Income Tax Officials RBI directed banks to Periodically Audit Documents of Credits of 5 Crore and Above RBI put restrictions on Co-Operative banks for Loans against Gold coins Finance Ministry asked Indian Bank Association to set up Oversight Mechanism Department of Telecommunication (DoT) asked TRAI to Audit Spectrum Use The Import Duty on Gold and Platinum hiked from 6 to 8 Percent Government hiked the Import duty on Gold and Platinum CCEA approved Revival of Nagaland Pulp and Paper Company Limited The Union Cabinet of India approved the Real Estate Bill 2013 India's Foodgrain Production registered a Growth of 30 Percent India to Dominate Global Saving and Investment Along With China: World Bank Report RBI extended Time for opening up of New Banks by Six Months Government raised the Import Tariff Value of Gold to 459 Dollars per 10 Grams India witnessed a Five-Fold Increase in Power Generation Foreign Investment Promotion Board Approved Eight FDI Proposals

As per the data released on 12 June 2013, Retail inflation stood at 9.31 per cent in May 2013 The limit of Foreign Investment in Government Securities was enhanced by 5 Billion US Dollar to increase overseas capital inflows on 12 June 2013. The cap on online repatriation of export proceeds was raised by to 10000 US dollars by RBI to arrest the slide in the value of rupee and boost Forex inflows. FEEs for May 2013 increased by more than 9 percent and the FTAs went up by 3.2 percent in the same period. RBI imposed a fine on Axis Bank, HDFC Bank and ICICI Bank for violation of KYC norms and anti-money laundering guidelines. The Central Board of Direct Taxes (CBDT) in month of June 2013has specified a value for the cost inflation index for 2013-14. The rupee fell by a whopping 71 paise to hit a new life-time low of 57 rupees 77 paise against Dollar The Ministry of Finance in June 2013 has introduced new rules for sending Income Tax officers to newly created overseas units similar to in the US and the UK. RBI on 7 June 2013 directed the banks to audit and verify the documents of all credits of 5 crore and above periodically to prevent frauds. Reserve Bank of India on 7 June 2013 extended the restriction on advance against gold on co-operative banks set to curb the demand for gold. The Finance ministry asked the Indian Banks' Association to set up an independent body to manage the corporate debt restructuring (CDR) mechanism. DoT asked Trai to carry out regular spectrum utilization audit of all service providers in order to ensure efficient utilization of spectrum.

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The government hiked the import duty on Gold and Platinum from 6 to 8 per cent on 5 June 2013. Import duty on gold was hiked from 6 percent to 8 percent by the Government of India with an aim of curbing the import of gold in the country. CCEA on 4 June 2013 approved the revival of the Nagaland Pulp and Paper Company Limited (NPPC) with the infusion of funds of 309.38 crore Rupees. The Union Cabinet of India on 4 June 2013 approved the Real Estate (Regulation and Development) Bill 2013 India's foodgrain production registered an impressive growth of over 30 percent in the last nine years. The World Bank report released on 3 June 2013 forecasted that India and China will become largest investors of the world in the year 2030. The RBI (Reserve Bank of India) on 3 June 2013 increased the validity period of setting up of banks from one year to 18 months. The Union government of India increased the import tariff value of gold to 459 dollars per 10 grams India witnessed a five-fold increase in the additional power generation capacity during the last nine years The FIPB on 31 May 2013 approved eight FDI proposals, which include those of McKinsey & Company, ACME Solar Energy and GETIT Infoservices.